WASHINGTON, Apr 23, 2012 (BUSINESS WIRE) –
In honor of Earth Day, Cruise Lines International Association (CLIA) is
proud to highlight the recent and ongoing efforts of its member cruise
lines to protect and preserve the environment in which they operate.

“In the 37 years since CLIA was established, our industry has made
significant progress in reducing our environmental impact by
implementing responsible practices and investing hundreds of millions of
dollars in new technologies that are having a tremendous impact today,”
said CLIA President and CEO Christine Duffy. “We believe it is our
responsibility to protect the environment in which we operate, and we
take great pride in the strides our industry has made to chart a
sustainable course for future generations.”

CLIA members have been at the forefront of wastewater treatment,
emissions reduction and developing innovative technologies to further
reduce the environmental impact of cruising. As more fuel efficient
ships have come into service, CLIA members have been systematically
reducing air emissions, including sulfur oxides, nitrogen oxides, carbon
dioxide and particulate matter. In the near future, international
regulations will further reduce sulfur limits, helping to reduce air
emissions across all oceans. To meet these standards, the industry has
been investing in new technologies that manage the use of energy more
effectively, such as testing the first ever cruise ship engine exhaust
gas scrubbers and developing engines that run more efficiently.

“Our industry has a vested interest in protecting the environment, not
only because it is the socially responsible thing to do — but because
the very nature of our product depends on a healthy natural environment
— clean oceans and beaches are essential to the cruise experience. CLIA
has made great strides to become a leader in the maritime industry with
responsible practices and innovations that are reducing environmental
impact,” Duffy said.

Cruise ships have adopted rigorous programs to tackle waste disposal in
an environmentally friendly manner, including doing all we can to
minimize the potential waste coming on board ships. We also take
extensive measures to recycle as much waste as possible by using
segregated on-board collection bins. CLIA lines recycle approximately
80,000 tons of solid waste annually, comprised largely of paper,
plastic, aluminum cans and glass. Other waste, such as hazardous waste
and oily bilge water receive special treatment as well.

A number of lines have invested heavily in the use of shore-based power,
allowing ship engines to be shut down while at port. A handful of ports
on the North American west coast are now equipped with the necessary,
and technically rather complex, facilities for ships to ‘plug-in’ when
they are in port. CLIA members are involved at the international
regulatory level to explore a universal approach toward shore power that
would overcome current obstacles, which involve the source of shore
power, the connection adapter itself, as well as electrical disparities
from one country to the next.

For CLIA members, environmental stewardship is an important initiative
for passengers and crew members alike. In an effort to raise awareness
among guests and promote conservation, a number of CLIA member lines
offer programs to specifically raise passenger awareness, including
behind the scenes videos, onboard activities, educational partnerships
in ports of call, and eco-friendly excursions. Along with these onboard
programs, member ships promote recycling and the importance of
conservation efforts.

CLIA member lines meet and often exceed all applicable environmental
regulations on a ship’s voyage. Each country, and often states and
localities, a ship visits may have its own rules and regulations and
therefore cruise lines and their environmental staff must ensure the
ship is compliant at all times. The Fleet of 2012 demonstrates the
industry’s continued commitment and dedication to the environment.

To learn more about Cruise Lines International Association and our
environmental initiatives, please visit: cruiseindustryfacts.com.

Take a look at several notable initiatives employed by the CLIA fleet:

–
Several lines are in various stages of employing advanced wastewater
treatment systems (AWTS) that produce water cleaner than what is
discharged from most municipalities. In addition, members treat
wastewater much further offshore than current regulations require.

–
Members of the Fleet of 2012 are utilizing highly efficient insulation
and heat reflective paint, which diminishes the need for chillers,
pumps and distribution piping, allowing one new ship to be constructed
with 25 percent less HVAC equipment.

–
One member line has partnered with non-profit “Clean the World” to
recycle leftover toiletries, donating 388 pounds of soap and 1,203
bottles of shampoos and conditioners in 2010 for distribution to
people in need.

–
One new ship’s public area is served with a clock system which is
pre-programmed so that during quiet hours, the lighting automatically
lowers to reduce the load and therefore reduces power demand.

–
Halogen and incandescent light bulbs have either been replaced on many
lines or are being replaced with LED lights, which last 25 times
longer, use 80% less energy, and generate 50% less heat.

–
A number of member lines use fabric bags — including laundry, dry
cleaning, and shoe shine bags — in lieu of plastic bags, thereby
reducing plastic from the waste stream.

–
Many lines are using ecological, non-toxic, slick hull coatings that
save as much as 5% of fuel usage for propulsion.

–
CLIA member lines recycle approximately 80,000 tons of garbage in a
given year including paper, plastic, aluminum cans and glass.

–
Our lines work with suppliers to reduce the amount of packaging
materials coming onto the ships and require that in-cabin amenities be
packaged in recyclable materials. As part of this, one of our member
lines reduced the amount of waste landed ashore by 19 percent from the
previous year and 47 percent from 2007 levels.

–
Various ships are installing high-efficiency appliances onboard their
ships in order to minimize their impact on the environment. Every type
of appliance onboard the ships is evaluated for efficiency, including
TV’s, coffee makers, ovens and dishwashers.

About CLIA

The nonprofit Cruise Lines International Association (CLIA) is the
world’s largest cruise industry organization. CLIA represents the
interests of 26 member lines and participates in the regulatory and
policy development process while supporting measures that foster a safe,
secure and healthy cruise ship environment. CLIA is also engaged in
travel agent training, research, and marketing communications to promote
the value and desirability of cruise vacations with thousands of travel
agency and travel agent members across North America. For more
information about CLIA, the cruise industry, and CLIA-member lines and
travel agencies, visit
www.cruising.org .
CLIA can also be followed on the Cruise Lines International
Association’s Facebook
and Twitter
fan pages.

SOURCE: Cruise Lines International Association

CLIA
Lanie Morgenstern, 754-224-2202
lmorgenstern@cruising.org
or
M. SILVER ASSOCIATES
Gina Nisi, 212-754-6500
ginan@msilver-pr.com

Copyright Business Wire 2012

Financial Glossary

Words used in this article:

Tags: Industry

Apr 23, 2012 

YANGON, Myanmar (AP) — Looking across a sea of young workers perched behind rows of buzzing sewing machines, factory owner Myint Soe has one main hope for Monday’s suspension of European sanctions on Myanmar — the restoration of some of the 80,000 garment industry jobs lost here over the past 10 years.

A complex web of Western trade embargoes imposed on the Southeast Asian nation since the late 1990s was supposed to punish its iron-fisted former military rulers for years of misrule and human rights abuses. But the poorest unskilled laborers suffered far more than the regime, and many lost crucial jobs that could sustain entire families.

On Monday, the European Union confirmed it was suspending most of its sanctions to reward Myanmar’s recent wave of political reforms. The announcement is the biggest rollback yet, and many here are hoping rekindled trade ties with the West will yield badly needed growth.

“For us, it’s simple. This means new job opportunities for our people,” said Myint Soe, who also chairs Myanmar’s Garment Manufacturers Association. “We’re hoping for new contracts, new orders … we’re hoping to open more factories.”

U.N. Secretary-General Ban Ki-moon, who announced Monday that he will visit Myanmar this weekend at President Thein Sein’s invitation, said there is “an unprecedented opportunity” to help promote its transition to democracy.

“We must make the most of this moment,” Ban told reporters. “We need to see more such progress, more international support for Myanmar’s efforts to bring about democratic change.”

The sanctions ostracized Myanmar’s former army rulers and drastically diminished lucrative investment and trade with the United States and Europe. Bans on international financial transactions were so strict that even today, top international hotels in Yangon can only accept cash, not credit cards.

In recent months, though, the West has begun rewarding Myanmar’s new government for widely praised progress toward democratic rule. The government has freed political prisoners, signed truces with rebel groups and organized April 1 by-elections deemed free and fair that were overwhelmingly won by opposition leader Aung San Suu Kyi’s party.

The process has not been glitch-free. Suu Kyi’s party refused to take its new seats in the parliament Monday because part of the oath of office pledges to “safeguard” the constitution — which they want to change.

They would prefer it said “respect” the constitution. Thein Sein said he was open to the possibility of revising the wording, and members of Suu Kyi’s party said they believe the matter will be resolved soon.

So far, some nations have eased travel bans against top government officials, while Washington has relaxed financial restrictions to enable U.S.-based groups to do charity work in the impoverished country. The U.S. may also ease restrictions on American investment and financial services.

In Luxembourg on Monday, the EU announced the suspension of most sanctions except an arms embargo against Myanmar for one year while it assesses the country’s progress. The restrictions had targeted more than 800 companies and nearly 500 people, and halted some development aid.

“Myanmar is making progress in terms of elections, in terms of opening their system and we’re encouraging that,” European Commission President Jose Manuel Barroso said in Copenhagen. “We have to keep our efforts to support all the reforms in Myanmar for Myanmar to live in freedom.”

Alfredo Perdiguero, a senior economist at the Asian Development Bank in Bangkok, said the EU move would spur investment and create new markets for Myanmar. But he said its overall effect would be limited because the country’s economy is already growing and the nation has been boosting economic ties with its neighbors, including China and Thailand.

Still, he said the EU’s suspension will have “a huge psychological impact.”

The EU sanctions had removed Myanmar from the Europe’s so-called General System of Preferences, or GSP, which entitled garments produced in Myanmar to be exempt from import duties. The loss of that status meant doing business in Myanmar cost more, which dramatically decreased trade ties.

Myint Soe said Myanmar’s return to the GSP could yield as many as 25,000 new jobs in the textile industry alone in 2012.

An easing of U.S. sanctions could prove even more beneficial.

The garment industry here used to rely on the United States for about 75 percent of its business, and a wave of sanctions imposed by Washington in 2003 crushed the industry. Myint Soe said he was forced to fire about 400 of his 550 employees at the time.

“It was painful. Each one cried and asked ‘why?’” he said in an interview. “The sanctions targeted the government, but it didn’t affect them. It was the people, the workers, who really got hurt.”

Since then, Myanmar’s textile industry has rebounded as companies shifted to new markets in Asia, where trade is unrestricted. Myint Soe now employs about 300 people, and if he wins back old business in the West he could eventually emerge much stronger than before.

There has been debate over the value of sanctions, but many longtime opponents of the military regime say they have been effective and should only be relaxed slowly.

Hkun Tun Oo, a senior politician representing the ethnic Shan minority who was released from jail in a mass amnesty in January, said the EU’s temporary suspension was the right move “because if things do not improve within a year, sanctions can be renewed.”

For garment factory workers who make $120 per month or less, the eventual end of sanctions will be a big deal.

For Phyu Phyu Swe, 33, who was sewing a stack of uniforms bound for Japan, it will mean job security, and possibly more money in bonuses.

“I have family members depending on my income, and this is the only skill I know,” she said. “So I always hope and dream that this industry will get back on its feet.”

Associated Press writers Jan M. Olsen in Copenhagen and Edith M. Lederer at the United Nations contributed to this report.

Copyright © 2012 The Associated Press. All rights reserved.

Tags: Industry

CALABASAS, CA, Apr 23, 2012 (MARKETWIRE via COMTEX) –
Ixia

/quotes/zigman/84338/quotes/nls/xxia XXIA
+1.02%

, the leading global provider of converged IP
and wireless network test solutions, announced today the industry’s
first off-the-shelf, standards-based OpenFlow test solution. The
company’s IxNetwork and IxANVL test solutions now enable OpenFlow
protocol emulation with integrated network traffic and offer a suite
of OpenFlow compliance tests. The OpenFlow communications protocol
brings network simplification by centralizing access to switch and
router forwarding planes. Ixia’s test solutions enable network
equipment manufacturers, service providers, and enterprises
implementing this promising new technology to verify protocol
conformance and tune network designs before deployment. The solution
will be demonstrated publically May 8-10 at Interop Las Vegas in
Ixia’s booth #1262 and Ixia will participate in the InteropNet
OpenFlow Lab.

OpenFlow-enabled networks open up many possibilities for development
through software defined networking (SDN), where the network control
plane is accessible through an application programming interface
(API). This area is gaining a lot of momentum as large enterprise
such as Google, Facebook, Microsoft, and Yahoo seek the
vendor-neutral network programmability enabled by decoupling their
control- and data-planes.

Ixia’s OpenFlow test capabilities include OpenFlow emulation in
IxNetwork and an OpenFlow conformance test suite in IxANVL.
Leveraging its hardware-based traffic generation with new
control-plane capability, IxNetwork can now emulate an OpenFlow
controller to modify flow table entries and then generate traffic to
test the forwarding. For testing switch protocol conformance, IxANVL
will have a new suite of OpenFlow v1.0 testing that includes testing
cases for Open Networking Foundation (ONF) certification in alignment
with the OF-Test 1.0 specification that is currently being finalized.
Protocol conformance is important to not only ensure compatibility in
a multi-vendor environment, but to pursue ONF certification.

Development of the OpenFlow standard is managed by the ONF. The
OpenFlow protocol has found its way into many vendors’ physical
Ethernet routers and switches, virtual switches, and access points
and continues to evolve under the guidance of the ONF.

Ixia is the Chair for the Testing-Interop Working Group, which
planned and managed the first ever ONF interoperability event last
month at Ixia’s iSimCity lab in Santa Clara, CA. This event was open
to all ONF member companies and focused on the v1.0 standard. The
white paper and technical document will be available on the ONF
opennetworking.org website.

Quotes:
“Testing tools are critical to
helping to ensure protocol conformance and optimal performance,” said
Dan Pitt Executive Director at ONF. “ONF member companies continually
strive to ensure that their customers have access to products that
keep pace with innovative new technologies and standards.”

“Ixia’s commitment to open standards will help accelerate the
adoption of SDN and creation of innovative solutions by ensuring high
conformance to the OpenFlow protocol,” said Isabelle Guis, Vice
President of Outbound Marketing at Big Switch Networks. “This is part
of Big Switch Networks’ open SDN architecture and we are excited to
participate in a demonstration of OpenFlow-enabled technology in
Ixia’s Interop booth.”

“OpenFlow is an exciting new lower-layer technology that enables
software-defined networking and will cause significant change the way
networks are controlled,” said Michael Haugh, Senior Product Line
Manager, at Ixia. “As operators implement OpenFlow, they’ll need test
tools like Ixia’s to validate their hybrid networks, ensuring a
smooth transition to SDN.”

Resources:

— See an OpenFlow demonstration at Interop 2012, Las Vegas in Ixia’s
booth #1262 and at the InteropNet OpenFlow Lab
— Further information on OpenFlow:

https://www.opennetworking.org/standards/open-flow — Ixia blog article “OpenFlow – a common thread among competing switches
and routers”:

http://blogs.ixiacom.com/ixia-blog/openflow-%E2%80%93-common-thread-among-competing-switches-and-routers — Video “ONF OpenFlow Interoperability Test Event at iSimCity”:

http://www.youtube.com/watch?v=0rPa41CAisk — Ixia enterprise data center web page:

http://www.ixiacom.com/solutions/enterprise/data_center/index.php

About Ixia
Ixia provides the industry's most comprehensive converged
IP testing solution -- from the wireless edge to the Internet core.
Network equipment manufacturers, service providers, enterprises, and
government agencies use Ixia's industry-leading test and simulation
platforms to design and validate a broad range of wired, Wi-Fi, and
3G/LTE networking equipment and networks. Ixia's solutions create
real-world conditions by emulating a full range of high-scaling
networking protocols and generating media-rich application traffic to
validate performance, conformance, and security of cloud, core, data
center, wireless, and multiplay networks. For more information, visit

www.ixiacom.com .

Ixia and the Ixia four-petal logo are registered trademarks or
trademarks of Ixia. Other trademarks are the property of their
respective owners.

SOURCE: Ixia

Copyright 2012 Marketwire, Inc., All rights reserved.

/quotes/zigman/84338/quotes/nls/xxia

Add to portfolio

XXIA

Ixia

US

: U.S.: Nasdaq

$
12.92

+0.13
+1.02%

Volume: 175,839
April 27, 2012 4:00p

P/E Ratio44.78
Dividend YieldN/A

Market Cap$919.63 million
Rev. per Employee$242,722

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Tags: Industry

Telecom regulator TRAI on Monday released its recommendations on auction of spectrum brought back to the government pool through the cancellation of 122 licences by the Supreme Court in its February 2, 2012 judgment.

Within hours of its release, the Recommendations were unanimously labelled arbitrary, regressive and inconsistent by the entire telecom industry for calling for a reserve price of Rs. 14,422 crore/per MHz for the 700 MHz band, Rs. 7,244 crore/MHz for the 800/900 MHz band and Rs. 3,622 crore for the 1800 MHz band. This translates into a reserve price of over Rs. 18,100 crore for a block of 5 Mhz in 1800 Mhz band.

The TRAI has also unsettled the public sector firms by recommending immediate withdrawal of excess spectrum of 2×2.4 MHz from MTNL. It has further quoted its earlier recommendations of May 2010 which says excess spectrum from both BSNL and MTNL should be withdrawn.

With the industry jointly up in arms, the government will be forced to re-examine the issue which requires a mandatory reference back to the TRAI. This could push the entire schedule ahead by months as the TRAI chairman is set to demit office, which means the entire issue will have to be addressed afresh by the new TRAI chairman.

Those firms holding CMTS licence/UAS licence/Unified licence or eligible for grant of Unified Licence are eligible to bid in these auctions, which shall be conducted using Simultaneous Multiple Round Auction (SMRA) format. The spectrum validity is for 20 years.

The recommended sequence of spectrum auction is auction of 5 MHz in the 1800 MHz band as early as possible in 2012-13 itself; allocating additional 1.25 MHz spectrum to the holders of 4.4 MHz in 1800 MHz bands, subject to legal opinion; auction of spectrum in the 800 MHz band in the current financial year; auction of the 900 MHz band in the first half of 2013-14; auction of the balance spectrum in 1800 MHz band in the first half of 2013-14; auction of the 2100 MHz band in the second half of 2013-14; auction of the available spectrum in the 700 MHz band in the first half of financial year 2014-15; and auction of the additional spectrum in the 2300 MHz band in the second half of financial year 2014-15.

Licensees who have acquired spectrum through auction shall be levied spectrum usage charge at the rate of 1% of the Adjusted Gross Revenue (AGR). However, licensees with a mix of spectrum assigned administratively and spectrum acquired through auction and licensees who have been assigned spectrum only through administrative process shall be levied spectrum usage charges at the rate applicable on the administratively assigned spectrum and on the entire AGR. The calculation of licence fee as well as spectrum usage charge will be based on a minimum AGR (which shall not be less than 5% of the bid amount) or the actual AGR, whichever is higher.

Spectrum becomes technology neutral and service agnostic, which simply means that spectrum in any band can be used for deploying any services in any technology. Mortgage of spectrum may be allowed by spectrum holders to a registered Indian financial institution against borrowings.

The TRAI has further recommended that the Department of Telecommunications together with the Finance Ministry and the Reserve Bank of India remove all the road blocks in the framework for borrowings by the telecom sector against the spectrum assigned.

The TRAI says spectrum trading should be allowed between spectrum holders which have obtained spectrum through auction or have paid the auction determined price for the spectrum held by them, only for the limited purpose of frequency configuration (arranging spectrum in a contiguous band).

Tags: Industry

By Gillian Steward
Columnist

For once the outcome of an Alberta election was completely unpredictable.

Right up until the end the two leading contenders — Alison Redford’s PCs and Danielle Smith’s Wildrose party — were locked in a bitter battle for control of government.

But one outcome was entirely predictable.

No matter which party won there would be no sudden changes when it came to oil sands development and all the risks and rewards that go with it, not just for Alberta but for the rest of Canada. The oil sands and energy policy in general were simply not on the election agenda.

Party leaders barely mentioned the oil sands; it wasn’t a big issue in the news media; at the public forums I attended not one person questioned candidates about oil sands policy. Official oil industry voices were noticeably silent for the entire campaign.

The oil sands didn’t even come up during the only televised leaders’ debate. It was as if the whole province went into denial about its addiction and no one cared enough to organize an intervention.

This may seem strange to other Canadians. After all, hardly anyone talks about Alberta these days without mentioning the oil sands.

But in Alberta all the political parties, with the exception of the New Democrats, are reluctant to take on the petroleum industry during an election campaign. For starters, the oil and gas corporations are the most reliable of sugar daddies when it comes to raising money for election campaigns.

Both the PCs and the Wildrose received substantial donations from industry players in 2011. And since Alberta’s election financing laws allow for up to $30,000 single donations during an election year, a lot more money was likely poured into party coffers in the last few weeks.

That was no doubt on Redford’s mind when she told 600 senior oil and gas industry leaders gathered in Calgary a week before she called the election that she would “stand up for your interests” and “not let you down.”

And since so many Albertans work directly for the oil and gas sector, or are in some way dependent on its success, no political leader wants to make those people skittish about their jobs or the future of the oil patch lest they lose their votes.

Former premier Ed Stelmach learned that the hard way. When he raised oil royalties a few years ago, the industry’s outrage fuelled the explosive growth of Wildrose, which until then had been a minor political player.

Not surprising then that during this election 13 Wildrose candidates (out of a full slate of 87) had direct experience in the oil and gas sector.

There was a bit of a kerfuffle related to the oil sands late in the campaign when Smith said she had doubts about climate change. But even that remark didn’t prompt much concern about how she might approach oil sands development. Given that those projects are among the largest emitters of greenhouse gases in the country, they just might have something to do with climate change.

Instead, Smith was portrayed as anti- science.

Party leaders, candidates and the voters seemed to believe that everything is coming up roses in Alberta as far as the economy is concerned so why discuss it? The Wildrose is so upbeat about the future that it promised each Albertan hefty cheques in the mail, payments from oil and gas revenue that became known as Dani-dollars.

The PCs made so many costly promises that the price of oil will soon have to zip up to $200 a barrel if they are to fulfill them.

There is no doubt that the federal Conservative government led by Calgary’s own Stephen Harper does not want an Alberta government that stirs up trouble over the oil sands. Harper wants the status quo, which means getting the stuff out of the ground and on the market as soon as possible no matter the consequences. The petroleum industry wants much the same thing.

But so many questions remain.

How are we going to quell growing criticism in the U.S. and Europe about our “dirty” oil? How do we best resolve the tension between the need for economic development via the oil sands and the need for environmental protection? Where on earth are we going to find enough workers for the oil sands boom? Should we be sending oil to eastern Canada rather than the U.S. or China? What if oil loses its lustre?

The answers to those questions are now more than ever in the hands of the Harper Conservatives and the petroleum industry for they were the real winners of the Alberta election.

Gillian Steward is a Calgary writer and journalist, and former managing editor of the Calgary Herald. Her column appears every other week.

gsteward@telus.net

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Tags: Industry

SAN FRANCISCO, CA, April 23, 2012 /PRNewswire via COMTEX/ –
John Cashin, John Norton, Jonathan Allen become Principals

Earl Webb, President, U.S. Operations, of Avison Young, Canada’s largest independently-owned commercial real estate services
company, announced today that five commercial real estate industry
leaders have joined the firm’s new office in San Francisco.

The new additions expand Avison Young’s newly-opened 12th location
outside of Canada, and the company’s third California office.

Effective immediately, John Norton, Jonathan Allen and John Cashin join Avison Young as Principals. Melinda Miyagishima joins the firm as a sales and marketing specialist/office manager and Raquel Ledesma becomes sales and marketing specialist/market research co-ordinator. All
five will be based in Avison Young’s new downtown San Francisco office,
which opened April 11, 2012.

Prior to joining Avison Young, all five worked in the San Francisco
office of Cornish & Carey Commercial Newmark Knight Frank with Nick Slonek, who was appointed two weeks ago as Avison Young’s new Managing
Director for the Northern California region.

“In a dynamic market like San Francisco, it’s vital that our new
operations get off to a strong start. This talented new San Francisco
team will help us achieve that goal and enable us to gain a solid
foothold in San Francisco and Northern California from the outset,”
comments Webb. “All five team members are proven industry leaders who
will help us continue to recruit top professionals from throughout the
region, and further our expansion program in the Western U.S., which we
view as an integral part of our future growth.”

Allen will continue to focus on tenant representation on behalf of his
public and private office clients, Norton will continue to specialize
in agency leasing, and Cashin will continue to concentrate on servicing
both landlords and tenants throughout the Bay Area. In addition, Cashin
will play an active role in the recruitment of young brokers as Avison
Young continues to expand in San Francisco and throughout the Bay Area.

“I could not be more excited to embark on this exciting and challenging
journey with this crew,” notes Slonek. “Most of us have worked together
for nearly a decade now, so we know what we need to do to be successful
together. We are truly a team.”

Webb adds that the appointments reconfirm Avison Young’s strong desire
to use its highly profitable platform and its pristine balance sheet to
recruit more senior brokers, executives and administrators to fill the
company’s service-delivery needs in San Francisco and the Western
region, and further the growth of the Avison Young brand nationally and
internationally.

“Avison Young’s commitment to quality service combined with its
strategic plans to build its brand across North America and beyond, and
expand in all facets of the commercial markets, is something I look
forward to being a part of,” says Norton. “Avison Young’s holistic
approach to providing best-in-class real estate solutions creates a
compelling value proposition for our clients.”

“Taking the next steps in our careers with Avison Young is quite an
honor,” notes Allen. “We look forward to reaching the next level of
client service with our new platform and with our esteemed colleagues
across the United States and Canada.”

Adds Cashin: “The company’s vision for growth and its focus on the
client are completely parallel to my goals. Avison Young’s pool of
talent, resources and expertise gives us the ability to provide the
most comprehensive real estate services to our clients.”

Avison Young’s new San Francisco office is located at 601 California
Street, 5th floor, in downtown San Francisco.

Over the past three years, Avison Young has grown from 11 to 29 offices
in 26 markets and from 300 to more than 900 real estate professionals
across Canada and the U.S.

Avison Young opened its first California office in Los Angeles in August
2011, followed by a second Los Angeles office in December through the
acquisition of Ramsey-Shilling Commercial Real Estate Services, Inc.

Biographies

Jonathan Allen
Jonathan Allen has 13 years of sales and leasing experience in the
commercial real estate industry and joins Avison Young after spending
the past five years with Cornish & Carey Commercial Newmark Knight
Frank. Before that, he worked for six years in the Bay Area with Grubb
& Ellis Company. Allen’s move to Grubb coincided with his move to the
Bay Area after he launched his real estate career in London, England.
Allen’s major clients have included Trulia, Parsons Brinckerhoff,
Sierra Nevada Corporation, San Francisco County Transportation
Authority, KeyBank, Lending Club, and the Consulate General of Canada.
His community participation includes pending election to the Board of
Directors for Wu Yee Children’s Services. A native of England, Allen
holds an honors undergraduate degree in urban land economics from
Sheffield Hallam University in his home country.

John Cashin
Prior to joining Avison Young, John Cashin spent seven years with
Cornish & Carey Commercial, negotiating on behalf of both tenants and
landlords. He moved there in 2004 after three years as a
tenant-advisory expert with Transwestern Commercial Services. Before
joining Transwestern, he helped operate his family’s residential firm,
Cashin Company Realtors, a prominent real estate company in the Bay
Area. Cashin’s clients have included Wells Fargo Securities, Oak Hill
Capital Management, GLL Real Estate Partners, Broadreach Capital
Partners and Sears Corporation. Cashin is a member of the Olympic Club
and Meals on Wheels. He holds a Bachelor’s degree in sociology from the
University of Oregon.

John Norton
John Norton launched his commercial real estate career in England in
1999 before moving to San Francisco to join Grubb & Ellis Company in
2001. Since then, he has specialized in both landlord and tenant
representation in the downtown San Francisco office market, serving
local and national clients. He joined Cornish & Carey Commercial’s San
Francisco location in 2007. Norton currently represents Langley
Investments, Ashforth and GE Pension Fund at 405 Howard Street, and
Kennedy Wilson at 300 California Street. Recent clients include Levi
Strauss, Skyy Spirits, Blurb and New Resource Bank. Norton is a
graduate of the urban land economics school at Sheffield Hallam
University in England.

Melinda Miyagishima
Prior to joining Avison Young, Melinda Miyagishima spent eight years as
a sales and marketing assistant in the San Francisco office of Cornish
& Carey Commercial, of which she was a founding member. A licensed
California real estate sales agent, she supported the downtown office
leasing team and was named Employee of the Year in 2009. Prior to
joining Cornish & Carey, she served as an administrative assistant for
three years at CB Richard Ellis in San Francisco, working with the
project management group and brokerage services. Miyagishima has also
held positions with two well-known architectural firms, Reel Grobman &
Associates and Hellmuth, Obata & Kassabaum, and a small private real
estate firm. She holds a Bachelor of Science degree in health and
physical education from Oregon State.

Raquel Ledesma
Raquel Ledesma has 12 years of experience assisting commercial real
agents in San Francisco. Before joining Avison Young, she served as a
sales and marketing assistant at Cornish & Carey Commercial for four
years, supporting the downtown office leasing team. During her career,
Ledesma has handled a variety of tasks, ranging from desktop publishing
to database maintenance. Prior to moving to Cornish & Carey, she served
as an administrative assistant with Grubb & Ellis Company and with
Whitney Cressman Limited (now GVa Kidder Mathews). Ledesma was named
Cornish & Carey Commercial’s Employee of the Year in 2011, Grubb &
Ellis’ Employee of the Year in 2007, and Whitney Cressman Limited’s
Employee of the Year in 2000. She holds a Bachelor’s degree in health
education from San Francisco State University.

In February, Avison Young was named a winner of Canada’s 50 Best Managed Companies program for 2011, sponsored by Deloitte, CIBC, National Post and Queen’s School of Business.

Founded in 1978, Avison Young is Canada’s largest independently-owned
commercial real estate services company. Headquartered in Toronto,
Ontario, Avison Young is also the largest Canadian-owned,
principal-managed commercial real estate brokerage firm in North
America. Comprising more than 900 real estate professionals in 29
offices across Canada and the U.S., the full-service commercial real
estate company provides value-added, client-centric investment sales,
leasing, advisory, management, financing and mortgage placement
services to owners and occupiers of office, retail, industrial and
multi-residential properties.

oEditors/Reporters: please click on link to view and download head shots

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SOURCE Avison Young (Canada) Inc.

Copyright (C) 2012 PR Newswire. All rights reserved

Financial Glossary

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Tags: Industry

So bankrupt AMR (OTC: AAMRQ.PK) and once-bankrupt US Airways (NYS: LCC) want to join hands and fly together. Both US Air and AMR management have been very public about the possibility of consolidation over the past few weeks. The move would consolidate assets and routes, create operational efficiencies, and slim down Kayak search results to something more manageable. It may look good on paper, but can either company really help each other?

Two airlines, one desire
It sounds like a great date movie: Against impossible odds, two companies come together to try to make it in an industry that has been one of the greatest money holes of all time.

But even if it makes for great CNBC squawking, the merger may not be in the best interest of either company. American Airlines underperformance in the past few years comes at a time when US Airways has gained a strong foothold in the eastern half of the country. Besides stretching that foothold across the Midwest and further west, why would US Air want to acquire a potential disaster? Globally, the overlap in routes, as noted in Scott McCartneys April 20 Wall Street Journal article, would not make for the best marriage. US Air would still be underrepresented in Asia compared with Delta and United. Domestic operational efficiencies might improve, but I dont see much else in it for US Air.

Operation!
American Airlines has some of the worst statistics when it comes to delays and cancellations. Of its top 20 most traveled routes in 2012, only one has been on time above 89% of the time — and that was a flight from Dallas to Austin. Using the same metrics for US Air, eight out of 20 of were 90% or above.

On the lost- or damaged-luggage front, the US Department of Transportation ranks US Air fourth out of 15 airlines reviewed, with an average of 1.85 complaints per 1,000 travelers. American Airlines came in at No. 9, with an average of 2.62 complaints.

So if US Air takes over, it will have to retrain its new employees and reorganize American Airlines crummy systems just to maintain what it already has.

Why, US Air, why?

Dogfights
What will US Air do when it inherits 10,000 pilots from American? Are the more senior pilots going to have to duke it out with US Airs top guns for the best routes? US Air is still working out the kinks from the merger with America West, whose pilots, baggage handlers, and flight attendants are not going silently into the night. In one incident, the merger included physical brawling that sent two men to the emergency room, in possibly the best example of culture clash Ive ever heard of.

The Allied Pilots Association, American Airlines pilots union, has recently thrown its weight behind the merger after US Air promised all pilots an immediate 5.5% raise, with annual raises for five years after. But although the APA technically represents the pilots, there appears to be some dissidence between the two parties. When American Airlines chief pilot John Hale spoke out against the merger, the APA responded, Our take is for whatever reason, American Airlines management feels threatened by US Airways management. Astute observation, APA.

Sit near the exit
This potential merger will go through several iterations before we see what will actually happen. US Air and American will have to negotiate endlessly between themselves and among the unions. It will cost a lot and accomplish little, and Im not sure either will company emerge in a better condition. Moreover, the airline industry, as noted in McCartneys article, will naturally consolidate over time — as it did in Europe.

The major carriers, like US Air, will have the most routes and economies of scale. The discount airlines, such as Jet Blue (NAS: JBLU) and Southwests (NYS: LUV) Air Tran, will be the niche players filling in the gaps and taking advantage of an inefficient system. In my opinion, if any of these airlines is a worthy investment, its probably one of the latter carriers. Remember that study from the Department of Transportation? Jet Blue and Air Tran were No. 2 and No. 3 — just beneath rising superstar Virgin America.

US Air made a strong comeback from its bankruptcy in the last decade. In a brutal business, it seemed to find a formula that worked, for the most part. After all the effort and struggle to make this mega-airline fly, it seems unnecessary to take a flightless bird under its wing.

Maybe youre uncomfortable trying to pick the least downtrodden company out of a basket of bad airlines. Thats understandable. Instead, check out an industry disruptor that could really take off: Download your copy of The Next Trillion-Dollar Revolution.

At the time this
article was published Fool contributor Michael Lewis owns no shares of the aforementioned stocks. Motley Fool newsletter services have recommended buying shares of Southwest Airlines. The Motley Fool has a disclosure policy. We Fools dont all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Copyright  1995 – 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Tags: Industry

Coal has been used for nearly as long as mankind has thrived. From the times of the cavemen to present day, coal is used for everything from cooking to heating to running steam-powered trains to generating electricity.

Today, coal is burned as fuel or gasified to create a synthesis gas (syngas) that can then be used as a feedstock for the production of chemicals, fertilizer and electric power. Coal is also used for producing heat through combustion.

The USA, Russia, Australia, China, India and South Africa have the largest coal reserves in the world. Coal is produced in 25 states in the US, spread across three coal-producing regions. The majority of the current production originates in just five states: Wyoming, West Virginia, Kentucky, Pennsylvania and Montana.

The importance of coal as a source of generating power has increased over time with the rise in industrialization. In due course, alternatives to coal for generating power have now curbed the dominance of coal to some extent.

OPPORTUNITIES

Coal Dominates US Power Generation: Coal as a major source of fuel for power generation dominates the Utility industry. Coal is used to generate about half of the electricity consumed in the US and is also the largest domestically-produced source of energy. Electricity generation absorbs about 93% of total US coal consumption. The reason is simple: coal is by far the least expensive and most abundant fossil fuel in the country.

Coal will continue to dominate as the major source of electricity production. Taking into consideration the long-term prospect of coal, one of its key producers Arch Coal Inc. (ACI) expanded its reserves in the Powder River Basin (PRB) through a successful bidding of a coal lease. The coal produced from South Hilight coal reserves are of high quality. This high quality, ultra-low-sulfur-dioxide-content coal is in huge global demand due to stringent government regulations on emission (pollution) standards.

In contrast, petroleum and nuclear power as sources of power generation have been losing market share displaced by the strong growth of renewable sources of generation and natural gas-fired generation. Petroleum is losing out to coal because it is becoming increasingly expensive. After the Japan earthquake/tsunami incident in 2011, nuclear powers contribution to the total energy generation has declined from the prior year.

Not Just Electric Generation: Electricity generation is just one use of coal in the US Manufacturing plants and industries use coal to make chemicals, cement, paper, ceramics and metal products, to name a few. Methanol and ethylene, which can be made from coal gas, are used to make products such as plastics, medicines, fertilizers and tar.

Certain industries consume large amounts of coal. For example, concrete and paper companies burn coal, and the steel industry uses coke and coal by-products to make steel for bridges, buildings and automobiles.

Coal as an Input for Steel Industry: Due to its heat-producing feature, today hard coal (metallurgical or coking coal) forms a key ingredient in the production of steel. Nearly 70% of global steel production depends on coal. The steel companies foresee a return of prospects in 2012 due to improving demand from the end markets.

Coal Trade

According to an Energy Information Administration (EIA) report, US coal exports in 2011 were 107 million short tons (MMst), which reflected growth of 31% year over year. Flooding in Australian mines during 2011 disrupted coal exports, which benefited US producers. The upsurge in coal exports during 2011 mainly emanated from demand from Asian countries. As per the EIA report, with Australian mines back in operation, US coal exports are expected to decline to 100 MMst in 2012.

The projected average delivered coal price to the electric power sector, which was $2.40 per MMBtu in 2011, is expected to fall to $2.38 per MMBtu in 2012 and $2.30 MMBtu in 2013. The downside is attributed to lower demand for coal in generating electricity.

Demand Upsurge in Asian Countries: The increase in coal demand in Asian economies like China and India has been a key price driver since the end of the recession in 2009. We expect this trend to continue in future mainly due to the growing energy needs in India, China and South Korea.

Of the Asian countries, economic growth in China and India will be the fastest. These two countries do produce coal, but its domestic coal production has yet to match the growing demand, resulting in the continuous need of importing coal. These countries rely heavily on coal for electricity generation.

A major portion of the new electricity generation units, which are expected to come up in these two countries, will utilize coal as a source of fuel. As per The Economic Times, it is projected that coal imports will touch 1 billion tons in China in 2030 from the present level of 175 million tons in 2011. Indian imports for coal are expected to reach 400 million tons in 2030, up from 80 million tons in 2011.

Given the growing demand from the fast-growing Asian economies, companies find it attractive to export coal to the emerging regions. Some of the names making the most from overseas coal exports are Peabody Energy Corporation (BTU) and CONSOL Energy Inc. (CNX). To cater to the increasing demand of coal in Asian countries, Peabody has acquired Macarthur Coal in Australia and expanded its footprint in high-demand regions.

Elsewhere, certain coal master limited partnerships (MLP), including Penn Virginia Resource Partners LP (PVR), Natural Resource Partners LP (NRP) and Alliance Resources Partners LP (ARLP), are also good investment bets for people seeking exposure in the coal sector.

WEAKNESSES

According to the EIAs report, US coal production in 2012 will experience a dip from the last five-year average. The projected decline is attributed to lower demand due to adverse weather conditions, large stock of coal and increasing competition from natural gas as an alternate fuel.

In the ensuing year, the demand for coal to produce power is likely to fall 10% from the previous year due to increasing use of natural gas to generate power. EIA forecasts coal use in the US power sector to fall below 900 million short tons in 2012 and 2013.

Coal is plentiful and fairly cheap relative to the cost of other sources of electricity, but its use produces emissions that adversely affect the environment. Coal emits sulfur dioxide, nitrogen oxide and mercury, which have been linked to acid rain, smog and health issues. Coal also emits carbon dioxide, a greenhouse gas that contributes to climate change.

Without proper care, coal mining can have a negative impact on ecosystems and water, and alter landscapes and scenic views. With governments becoming more and more stringent on environmental issues, the electricity generators are implementing new measures to bring down emission levels of greenhouse gases.

As per an EIA report, the combined impact from the usage of natural gas and renewable sources to generate power will gradually reduce the share of coal to produce electricity to 39% in 2035 from the high of 49% in 2007.

Environmental Legislations: Coal has been losing its importance as a fuel source over the last few years, particularly in the US, vis-agrave;-vis other sources that have a lesser impact on the environment. Concerns on the emission of greenhouse gases and global climate change have resulted in the formulation of new legislations and policies which emphasize on the use of environment friendly fuel sources, particularly in the power sector.

This has considerably slowed the expansion of coal-fired capacity in the power sector, with utility companies now building new natural gas-fired plants and resorting to alternative sources of energy generation like wind, solar and hydro power. To meet the environmental regulations, American Electric Power (AEP) has decided to retire 4,600 megawatts (MW) of coal-fired generation from its portfolio.

Natural Gas Substituting Coal: A major substitute for coal in energy generation is natural gas. Coal is being dumped in favor of natural gas, which due to extensive exploration and production, is seeing significantly lower prices than in the past.

Natural gas is usually an attractive choice for new generating plants because of its relative fuel efficiency, low emissions, quick construction timelines and low capital costs. There is an abundance of natural gas in the US markets, resulting in lower prices. This trend is encouraging power generators to not only convert their existing plants to gas-fired ones but to build new nat-gas units.

Electric generation through gas-fired plants is likely to become more competitive over the coming years given its abundant domestic availability and the threat of regulation hanging over the coal mining industry. As per EIAs reports, 96.65 gigawatts (GW) of new electric generation will be added in the US within 2009 -2015, out of which 20% will be natural gas-fired plants.

Large electricity generators in the US, like Exelon Corporation (EXC), FirstEnergy Corp. (FE) and others are turning to natural gas for additional electrical capacity.

Competition from Alternative Energy Sources: Apart from natural gas, the coal industry has been losing a major share of its electric generation demand to renewable sources of energy like wind, solar and hydro power.

Production of power from renewable sources has also been supported by the various US states. At present there is no national consensus regarding the percentage of energy to be generated from renewable sources by the power generators.

Undoubtedly, state legislators are giving more emphasis to produce power from renewables. At present, 30 US states and State of Columbia have enforceable renewable portfolio standards or other renewable generation policies. These policies were designed to spread awareness and encourage the power generators to produce more from renewable sources.

The share in energy generation of renewable fuels (including conventional hydro) is projected to grow from 10% in 2010 to 16% in 2035, as per the EIAs long-term outlook.

In Conclusion

Though there is ample pressure on coal from legislations and increasing competition from natural gas and renewable energy sources, we believe the global power industry will continue to depend on coal for a large part of its generation. Coal as a fuel source will continue to power the growth in emerging nations like China and India, both for utility companies and steel makers as it is cheaper compared to other energy sources.

On the flip side, the debt crisis in Europe is still lingering, despite relief packages that have already been announced to revive the economy. The uncertain economic climate continues to impact the industry and curb its growth prospects. The lackluster demand for steel, which is widely used in different industries, could be an indicator of where we are heading.

ArcelorMittal (MT), a major producer in the global steel industry, has as yet idled 5 of its 25 blast furnaces in Europe due to tepid demand. Likewise, demand for coal is expected to decline in Europe as the steel industry consuming a large volume of high quality coal continues to struggle.

The EIA estimates, even if no new reserve is added, the present US coal reserve will exhaust in 168 years, taking into consideration the incremental production rate. This is promising because, in addition to the many existing ways to use coal, the future holds new methods and potential for growth. Products from coal may soon be part of communications and transportation systems, computer networks and even space expeditions.

In addition to these new and increased uses of coal, new technologies will continue to enhance the ability to identify the shape and composition of untapped coal reserves. Emerging know-how is also likely to look for a solution to the adverse effects of coal on the environment mitigating greenhouse effects and other environmental concerns.

For example, the dry sorbent injection pollution control technology can play an important part in coal usage in the power plants. This technology will aid the power plant operators using coal to lower SO2 emissions and enable them to comply with the Environmental Protection Agencys Mercury and Air Toxics Standards (MATS).

These new technologies focused on achieving near-zero emissions open up avenues for potential long-term industry growth. Clean-coal technology development in the US also has funding earmarked under the American Recovery and Reinvestment Act of 2009. This is an encouraging sign for coal producers.

Even if alternate sources for generating fuels are available, coals advantage lies in its price, which is far lower than the other sources of fuel. We believe reinvigorating demand from the growing economies and steady demand from US will drive the coal industry in the future.

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Tags: Industry

As the American solar industry readies itself for a possible trade war with China, factions of the divided industry are battling among themselves.

Some argue that China is killing American solar manufacturers by illegally dumping cheap solar panels on the US market, while others fear that tariffs against China would curtail solar adoption here and provoke a wider trade war with China.

The battle began last fall when the American arm of SolarWorld, a German company that makes solar cells and panels in Oregon, filed a trade complaint on behalf of American solar manufacturers. SolarWorld argued that Chinese solar companies benefit from enormous government subsidies and are illegally dumping solar cells in the United States, driving American companies out of business.

Artificially low-priced solar products from China are crippling the domestic industry, said Gordon Brinser, president of SolarWorld Industries America, in a letter after the complaint was filed. As the strongest and most experienced US producer, SolarWorld is leading the effort to hold China accountable to world trade law.

SolarWorld filed the trade complaint on behalf of seven solar companies that it said sustain thousands of US jobs, directly and indirectly, and manufacture solar cells and panels in the United States. The group of companies, which wanted duties applied to Chinese solar products to level the playing field, is known as the Coalition for

Tags: Industry

Mitt Romney returned to his native state of Michigan on Wednesday, but it was hardly the homecoming that he probably wished for.

Despite his roots here — his father was governor for six years — Romney is trailing Rick Santorum in the polls. Thirty delegates are at stake in the Feb. 28 primary, and Romney, who beat John McCain here by 9 percentage points in his unsuccessful 2008 presidential bid, needs to do well to stop Santorums surge.

Although Romneys campaign went after Santorum, arguing that he was friendly with labor unions while representing Pennsylvania in the Senate and the House, Romney did not mention him or the other GOP candidates competing for the nomination while campaigning in this suburb of Grand Rapids. Instead, the former Massachusetts governor reserved his criticism for President Obama and labor unions, arguing that the president has failed on domestic and foreign policy, in part because he is beholden to big labor. And he did not retreat from his opposition to the auto industry bailout, a tricky position in a state where many believe the federal intervention was necessary to stop a total economic collapse here.

Obama got hundreds of millions from labor bosses for his campaign, and so hes paying them back in every way he knows how, Romney told several hundred people gathered at an office furniture manufacturer. One way, of course, was giving General Motors and Chrysler to UAW.

He called out the president of the UAW auto workers union for saying that Romney was not concerned about the auto industry.

I care very deeply about the auto industry, Romney said. I want to make sure we have good jobs. Not just for a few weeks but for many, many years. I want the industry to come back in a big way. Ive taken on union bosses before and Im happy to take them on again, because I happen to believe you can protect the interests of the American taxpayer and you can protect great industries like automobiles without having to give into UAW and I sure wont.

Romney pledged to require secret ballots for unionization votes, stop money from paychecks being withdrawn to support union political activities, stop the federal government from giving preference to unionized workers and other actions designed to weaken labor.

Before the rally, Romney held a round-table discussion with local businesspeople. They sat in front of two signs, one saying that manufacturing job losses have been in unionized businesses, and another stating, The Romney Difference: Standing up for workers, not union bosses.

Romney, who hasnt been in Michigan since November, is counting on getting some bounce from his familial connection to this state. Brochures handed out at his campaign events showed pictures of Romney as a boy and as a young man with his father, George Romney, and spoke about how the state was prosperous during his fathers tenure as governor. At the rally, Romney pointed out people in the crowd with whom he attended high school.

Im just delighted to be back in Michigan, he said. I visited every county in Michigan more than once, on my dads campaign and my moms campaign. Ive gone to county fairs, so I didnt always see the best of each county, but I saw every county in this extraordinarily beautiful state. I love Michigan. I love the country.

Romney recalled visiting Mount Pleasant for a Fourth of July event with his parents, and his father getting up to the microphone and declaring how glad he was to be in Mount Clemens. The crowd groaned.

My mother tried to help and say, George, its Pleasant, its Pleasant. He said, Sure its pleasant here in Mount Clemens, Romney said as the crowd laughed. So we make mistakes and were not too quick on the uptake either.

Tags: Industry